Category Archives: General
Examples of situations where taxpayers may lose their tax deduction for a theft loss
Taxpayers may lose their tax deduction for a theft loss if they have a reasonable prospect of recovering all or a portion of the loss. In such cases, the theft loss deduction will be postponed until there is a recovery or there is a certainty that the loss will not be recovered. For example,… Read More »
How to Leverage Clawbacks for Tax Relief After a Ponzi Scheme
United States tax attorney, Richard S. Lehman has created many educational videos to help educate the public on United States taxation. This fifty-minute educational video is about getting tax refunds when someone has made money in a Ponzi scheme and later the scheme collapses. When this happens, a bankruptcy trustee is appointed to collect… Read More »
Understanding Ponzi Scheme Clawbacks PLUS How To Maximize Your Tax Refunds
In this video, we’ll discuss a unique tax refund scenario related to Ponzi schemes. Imagine someone making money in a Ponzi scheme, and years later, when the scheme collapses, a trustee is appointed to recover funds from those who profited. The trustee is often successful in collecting back the money, including the profits and… Read More »
The two most critical mistakes that result in the loss of the maximum advantage of Ponzi tax deductions seem to be:
The failure to deduct tax losses in the correct year and entering into settlements that may result in a reduced value of the loss are the two most significant errors that can lead to the loss of maximum advantage of tax deductions. For instance, if a settlement includes shares of stock that subsequently lose… Read More »
Enhanced Legal Opportunities – For Sophisticated Tax Cases
After careful consideration, I have recently become Of Counsel with the prestigious South Florida law firm of Dorot & Bensimon PL. Through this of-counsel relationship you will have direct access to the finest legal talent in the area. With offices in Boca Raton and Aventura, Dorot & Bensimon specializes in domestic and international personal… Read More »
